Foreclosure in Bozeman>Question Details

Rob, Other/Just Looking in Bozeman, MT

I am renting a house and someone taped I believe a foreclosure notice to my front door it said something

Asked by Rob, Bozeman, MT Tue Feb 3, 2009

about money owed and a date set for an auction it also said four certified letters were missed. What does this mean and what should I do?

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6
Bryce Sullivan’s answer
Here is contact information of a well reputable Real Estate Law Firm in Bozeman:

Tim Fallaw
Rodney Schwasinger
517 South 22nd, Suite 2
Bozeman, MT 59718
(406) 587-2110
schwasingerlaw@hotmail.com
1 vote Thank Flag Link Wed Feb 4, 2009
Great information from my colleagues. I should add that you should probably not pay your rent directly to your landlord, but instead protect yourself by opening an account with your bank titled "Rent Escrow for Lender." The bank will only temporarily own the home between the foreclosure & the following sale, so it's very likely your home will be sold to another individual within the terms of the lease. This is a good time to renegotiate your existing lease, if you are not bound to transfer to a new owner by its terms, or you choose to relocate at the same time.
2 votes Thank Flag Link Tue Feb 3, 2009
First and foremost, I agree that you need to contact the homeowner immediately and give him the papers regarding the foreclosure. Secondly, I agree that you should speak with an attorney concerning your options and the possibility of withholding rent; this is not the first I have heard of this and the reason behind withholding is that the Rentor is the one in default and the Rentee is thus 'allowed' to not pay rent based on the default; not to mention the fact that you are quite possibly not going to get your deposit back. Of course, I again strongly suggest you speak with an attorney concerning this and find an amazing Realtor who can assist you in finding another property or quite possibly your own home - any Realtor on here should know someone in your area, including me, so email one of us and we'll gladly lead you in a good direction!
1 vote Thank Flag Link Tue Feb 3, 2009
We suggest that you contact your landlord IMMEDIATELY about the papers on your door. He most likely already knows that he's in default; however, you should bring it to his attention. If you have a local attorney, we suggest that you speak with him/her to find out where you stand. This is where we suggest you start.
1 vote Thank Flag Link Tue Feb 3, 2009
a) Contact property owner determine what is going on, you may not have a response.
b) Contact number on notice if you dont receive a call from owner determine what is going on.
c) Once foreclosed lender will possible pay you cash for keys without going thru eviction.

You need too investigate you are obligated to terms of executed lease till lender takes possession.
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Tue Feb 3, 2009
Hi Rob,

You should definitely contact your landlord about this notice on your door. But I disagree with the answer of withholding your rent & putting it in an escrow account. You must honor your rental or lease agreement. Just make sure you keep a record that you paid your landlord the rent agreed upon in the terms. If you do not honor your agreement, you can be kicked out, whether by the landlord who is in default, or the bank or entity that takes ownership. Also, you want to keep a good rental history for yourself and your future.

Let me know if I can help in any way!
0 votes Thank Flag Link Tue Feb 3, 2009
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